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1166 Holly Ave #11 # 11 Imperial Beach, CA 91932

3 Beds 3 Baths 1,892 sqft Built 2020

INVESTimate

$685,000

List Price

$3,160

$2,910 - $3,410

Rent Est.

$762,679  ( +11.34%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $362.05
  • 2 Days on Market
  • MLS # : 200041070
  • Updated Date : 08/25/2020 at 15:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,892 sqft
  • Baths : 2 full , 1 half
Listing Agent

West Coast Investments

Listing Agent's Description

Only 1 Model C left at Breezeline, Imperial Beach's newest community! Unit 11 is the most competitively priced out of the 15 New Construction homes and includes 1,892 square feet of living space, 3 bedrooms, bonus room, 2.5 baths, ample backyard space, and 3 parking spots (2 garage + 1 outdoor). High end finishes include calacatta quartz covered counters and kitchen island, cream wood grain soft close cabinets, and extremely durable SPC flooring. Designed by DBRDS, VA approved*, low HOA, no Mello Roos...

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MARKET HIGHLIGHTS

  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • As part of Southern California area, San Diego market inherits all the benefits from the area.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]

PRICE & RENT TRENDS

Neighborhood: Imperial Beach

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550kPrice in $187k594k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Imperial Beach

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $13542885

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Oneonta Elementary School Primary Regular 563 24 4
Oneonta Elementary School Middle Regular 563 24 4
Mar Vista High School High Regular 1,685 58 4

Oneonta Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 24
4
GreatSchools Rating

Oneonta Elementary School

  • Education Level: Middle
  • # of students: 563
  • # of teachers: 24
4
GreatSchools Rating

Mar Vista High School

  • Education Level: High
  • # of students: 1,685
  • # of teachers: 58
4
GreatSchools Rating
 

$616,500$753,500$685,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,527
Property Tax -$810
Property Insurance -$75
HOA -$147
Property Management Fees -$129
CASH FLOW
-$528

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 7% of earned rent to cover both maintenance and periods of vacancy.

$685,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.15%
Appreciation Year (1-5) 11.34%
Maintenance Year (1-5) 3.00%
Vacancy 4.16%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,525

INVESTMENT

$183,525

Down Payment
$171,250
Rehab Estimate
$2,000
Closing Costs
$10,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,527

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $171,250
Loan Amount $513,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$19,938

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,160

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $3,507

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1603$3,1994$3,795
$3,795
RENT COMPS ANALYSIS
  • 1166 Holly Ave #11 Imperial Beach, 2
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $1.67
    •  
  • 524 Turnstone Lane Imperial Beach, 1
    • 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2017
    property image
    LEASED 04/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.76
    •  
  • 1767 Gentle Current Way San Diego, 3
    • 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,662 Sqft ∙ Built 2017
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,199
    • $1.92
    •  
  • 961 Rolling Dunes Way San Diego, 4
    • 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 2017
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $1.88
    •  
PROPERTY LISTING DETAILS
Eric Wilson
1.619.415.4772
West Coast Investments
BESbswy